Common use of Holder’s Restriction on Conversion Clause in Contracts

Holder’s Restriction on Conversion. The Company shall not effect any c▇▇▇▇▇▇ion of this Debenture, and the Holder shall not have the right to convert any portion of this Debenture, pursuant to Section 4(a) or otherwise, to the extent that after giving effect to such conversion, the Holder (together with the Holder's Affiliates), as set forth on the applicable Notice of Conversion, would beneficially own in excess of 4.99% of the number of shares of

Appears in 1 contract

Sources: Convertible Security Agreement (Velocity Asset Management Inc)

Holder’s Restriction on Conversion. The Company shall not effect any cef▇▇▇▇▇ion ny conversion of this Debenture, and the Holder shall not have the right to convert any portion of this Debenture, pursuant to Section 4(a) or otherwise, to the extent that after giving effect to such conversion, the Holder (together with the Holder's Affiliates), as set forth on the applicable Notice of Conversion, would beneficially own in excess of 4.99% of the number of shares ofof the Common Stock outstanding immediately after giving effect to such conversion. For

Appears in 1 contract

Sources: Convertible Security Agreement (Velocity Asset Management Inc)